Taman Rasuna Apartments

Completed just before the Asian financial crisis in 1998, Taman Rasuna is one of the oldest and largest apartment complexes in Jakarta. Targeting the Indonesian middle-class (but popular with expatriates), it consists of 17 towers of 32 floors for a total of over 4,000 units and 10,000 residents.

I lived in Taman Rasuna for a few months in 2005, and I visited again recently (early 2019). This is my complete review of it:

Location:

Neighborhood

In which neighborhood of Jakarta is Taman Rasuna located?

Location Taman Rasuna

Taman Rasuna is located in Karet, Setiabudi. It is a rather strategic location if you work in the Kuningan business district as you can access most offices on Jalan Rasuna Said in less than 15 minutes. It is also less than 30 minutes away from Jalan Sudirman, Jalan Gatot Subroto, Jalan Thamrin and Mega Kuningan.

More precisely, Taman Rasuna is part of Rasuna Epicentrum. The latter is a 50-hectare superblock where you can also find the Epicentrum Mall, Club Rasuna (sports facilities), Plaza Festival, Aston Rasuna, Grand Rubina Business Park, restaurants, cafés, bars, etc.

Malls:Epicentrum Walk: A modern shopping center, quite small, with some affordable restaurants (Asian food), a bar, a well-stocked supermarket (Farmer’s Market), and an XXI cinema. It is between 2 minutes and 6 minutes walking distance, depending on which tower you are staying in.

Restaurants:There is a cheap food court in Taman Rasuna with some warungs serving Indonesian food. You also have a café near the swimming pool.

For better quality, you can go to Epicentrum Walk or Pasar Festival. Most serve Indonesian food for a decent price (around IDR80,000 for a meal). For Western food, I like Aphrodite, Liquid Exchange or the upscale Bluegrass (on the ground floor of Bakrie tower). 2 minutes from it, you can also try the restaurants of the Grand Rubina Business Park such as Trattoria (Italian), Saigon Café (Vietnamese) and Carl’s Jr (Burgers).

A bit further away (10 minutes), you can go to Setiabudi One. It is a food court with a large variety of restaurants and coffee shops: Gula Merah, Dapur Sunda, Burger King, Starbucks, Duck King, etc.

Bars and Nightlife:Two expat bars are located nearby: Aphrodite (sports and billiard) and Liquid Exchange (sports). Both are quite popular and they belong to the same owner. Another option, more sophisticated, is the trendy Bluegrass that specializes in steaks and grilled meat.

Finally, for real party, you can go to the nightlife district of Mega Kuningan (Basque Bar, Loewy, Bauhaus, etc).

Parks:About 10 minutes away by car, you have small parks like Taman Menteng or Taman Tangkuban Perahu. The garden of Taman Rasuna is actually quite large and it is nice enough to walk for a while. You can also walk a bit in the Rasuna Epicentrum area, for instance along the river.

Transportation

Is there a Transjakarta bus stop nearby?

Taman Rasuna Apartment to Halte Busway GOR Sumantri: Up to 15 minutes away if you live in the eastern towers

Transjakarta near Taman Rasuna

The closest Transjakarta station is GOR Sumantri in front of Plaza Festival. You can go there by foot in 10-15 minutes, or use a free shuttle. GOR Sumantri is served by the lines 6A, 6M, 6F, 6H and 4D, going directly to Ragunan, Dukuh Atas, Senen, Lebak Bulus, Manggarai, and TU Gas.

Is there a train station nearby?Not really. The closest ones are Manggarai and Sudirman but they are at least 3 kilometers away.

How about the MRT (Mass Rapid Transit) or LRT (Light Rapid Transit)?In the future, an LRT station should be located at GOR Sumantri in front of Plaza Festival.

Building Quality

Building and Architecture

What is the reputation of the developer?Taman Rasuna was the first residential project built by PT Bakrieland Development Tbk (through its subsidiary PT Bakrie Swasakti Utama). After that, they developed more projects in Rasuna Epicentrum such as the Bakrie Tower, The Wave, The Grove, Aston Rasuna, Plaza Festival, Epicentrum Walk and the 18th Residence Apartment.

I visited all the properties listed above and they are often disappointing. There is a gap between the marketing (what is promised) and what is actually delivered. Also, the Bakrie Group is behind many controversies in Indonesia and it is not particularly known for its integrity.

Who is the architect?Taman Rasuna was designed by two architectural firms, Arc Pac and Arkdesign.

Arc Pac (Architects Pacific Group) is an international company that also designed, among others, Plaza Indonesia, Batavia Apartments, Menteng Eksekutif, Casablanca Apartments and Puri Casablanca. On the 3 later projects, it seems that Arkdesign was also involved.

Who is the contractor?The construction was the work of a collaboration between French group Bouygues (with its subsidiary PT Dragages) and the Indonesian company Wijaya Karya.

What is the situation with the land certificate?The developer has a Hak Guna Bangunan Murni, which means the property was built on its own land. As an apartment owner, you get a “Strata Title di atas HGB Murni”.

Design and Appearance

How does the building look like?

From Outside (Facade):

From the outside, Taman Rasuna looks like a typical concrete residential complex:

Taman Rasuna Apartments Jakarta

Taman Rasuna bird view

Taman Rasuna building

Entrance:

There are several entrances, usually one for two towers:

Entrance to tower of Taman Rasuna

Car drop off of Taman Rasuna

Entrance to lobby Taman Rasuna

Reception/Lobby:

The lobby is small, with just a few chairs to sit and a reception desk:

Lobby of Taman Rasuna

Mailboxes Taman Rasuna Jakarta

Landscaping and Public Areas:

All the towers are linked to each other by a huge platform, above the parking lot, where you will find many amenities for the residents. These include a garden, a pool, basketball court, a tennis court, a football court, a jogging track, etc. This is what I liked the most about Taman Rasuna. It is not in a great condition and it can be crowded, yet it is nice to have such a large outdoor space in the city.

Taman Rasuna garden

Walking in Taman Rasuna

Walking area in Taman Rasuna

Walking path of Taman Rasuna

Pool landscape of Taman Rasuna

Corridors and lifts:

They are tiny, a bit dirty and they look gloomy:

Corridors of Taman Rasuna

Lift area in Taman Rasuna

How spacious are the apartments?The apartments’ size is the following:

Comfort

Facilities and Services

– Swimming pool: It is large, with a lagoon shape. Unfortunately, it can ve very crowded, especially on weekends and after 6 PM.

Pool in Taman Rasuna

Lagoon pool in Taman Rasuna

Pool of Taman Rasuna

Crowded pool in Taman Rasuna

Pool area in Taman Rasuna

Kids Pool in Taman Rasuna

– Gym: The equipment is a bit old and some of the machines are not functioning properly. That said, it is quite complete and you have a lot of free weights. If you want better facilities, you can also visit the Elite Club Rasuna (5 minutes away by foot).

What are the services available within the property?There are many services available within Taman Rasuna: ATM center, minimarket, foodcourt, laundry, shops, etc. There is also a large mosque.

Food court in Taman Rasuna

Mosque Taman Rasuna

Are there issues with the electricity supply?None that I know about. In the unit where I was staying, you had to buy the electricity in advance at the basement.

Are their issues with parking?No, each tenant gets a parking space.

Are there enough lifts?Yes, 3 for each tower.

Atmosphere

Is the property busy?Yes, it’s a very crowded property with an occupancy rate near 100%.

Is it noisy?Yes, it can be if your unit is facing East Jakarta. On this side, Taman Rasuna is bordered by a kampung with several mosques.

Kampung next to Taman Rasuna (East side)

What is the background (ethnicity, social status) and attitude of residents?Most residents are middle-class Indonesians, with also a lot of expatriates (especially from India). Overall, it is quite diverse.

Management

Maintenance

How old is the property?Most of the property was completed in 1998.

Are there visible damages?Yes, Taman Rasuna is old and you can expect to see many damaged areas or maintenance issues.

Taman Rasuna Maintenance

Overall maintenance rating: 5/10

Cleanliness

I found the property to be clean enough.

Overall cleanliness rating: 6.5/10

Gardening

The garden is well-maintained.

Overall gardening rating: 7/10

Security

– Guards: On duty at the gates 24/7– CCTV cameras: In the lobby.– Access: You need an access card to reach the lift.

Overall security rating: 7.5/10

Hospitality

The staff is friendly and professional.

Overall hospitality rating: 8/10

Rooms and Prices

Prices at Taman Rasuna may vary depending on many factors such as the floor, the unit type, the room condition and the furnishings. Some units also have a private lift.

Be aware that you may also need to pay for additional fees: Service charge, parking fee, electricity and water bills, etc. Here are a few examples of prices and ratios for this property:

1-Bedroom (57m2) – Well-furnished:

Rental 1 Year: Approximately IDR 72 million (or 6 million per month)

Buy: Approximately IDR 1,000,000,000

Break Even Point (Buying Price/Gross Annual Rental): 13.9 years

Average buying price/m2: IDR 17.5 million/m2

Investment Potential

Reasons to buy:Strong demand from renters: You are almost certain that you will find a tenant quickly.Midrange/budget apartment complexes in Jakarta that are near the business district are still rare.

Reasons NOT to buy:It is very unlikely that the price of the property will increase.It is an old property and its condition is worsening.Most apartments in Taman Rasuna need refurbishment, thus making the cost of buying even higherThe potential renters in Taman Rasuna have a limited budget

Would I buy this property? (On a scale from 0 = “not at all” to 10 = “yes absolutely” ): 5